Loading...
Loading...
Markets have been relatively bullish via the indices posting big earnings and the Federal Open Market Committee (FOMC) decision. Bernanke essentially reaffirmed no rate change and actual increase in POMO.
The
S&P 500SPY responded very bullish to the news, but to no surprise, the underlying stocks have not been participating.
JP MorganJPM,
Bank of AmericaBAC and
Goldman SachsGS have shown little interest in the move higher, while the techs are just whipsawing all over the place. Watch out for a post earnings play in
Priceline.comPCLN this week.
Otherwise, traders might want to look into buying puts starting sometime Monday for risk/reward and the fact that puts should be relatively cheap due to the last bit of retail money pushing into the calls.
The short won't be easy, but it'll be right around the corner. Careful of shorting a thin market, start it slow.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in